OrbitaxUAE Federal Tax Authority Provides Guidance on VAT Treatment of Barter Transactions
|Approved Changes|United Arab Emirates
The UAE Federal Tax Authority has issued VAT Public Clarification - VATP042, Value of Supply - Barter Transactions.
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Issue
In general, taxable persons receive monetary consideration for the supplies they make but consideration may also be received in the form of goods or services, i.e. non-monetary consideration.
Transactions which involve the exchange of goods and/or services, are kno…
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